Stock Attack II - A Complete Analysis Message Board

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Strategies & Market Trends : Stock Attack II - A Complete Analysis

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To: donald sew who wrote (3610)	3/21/2001 11:02:46 AM
From: Paul Shread	Read Replies (4) of 52237

Interesting that the NDX turned up at 1604 today; should be forming a nice falling wedge still. SPX got as low as 1130; I had critical support as 1125 (I really don't see another strong support on that index until 1000; nothing but air below that level, IMHO). I do not know why the Dow turned up at 10,539, or whatever today's level was. Maybe I'll see something in the charts later, or maybe someone else can offer a reason for that support. I had nothing between 9650 and 9350. I really think those NDX and SPX levels are break-or-bounce levels; the SPX is horizontal (mid-98 resistance), while the NDX support is declining at 9-10 points a day. That's all from here. I've got another project going on for the next week and a half, so you may not hear much from me the next couple of weeks. So get on the phone to the PPT and prop this sick puppy of a market up. ;-) I agree sentiment on the boards has gotten negative, but it's also based on one support after another taken out. I think we've finally come upon some (for me) critical levels here; the SPX takes out 1125 and we've easily got another 10% down, IMHO. Not sure if INDU or NDX support would matter in that case.

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